Category: Press Release

CSG Forte Wins TSG Real Transaction Metrics Awards for Second Consecutive Year

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Earns recognition for “Best Gateway Uptime” and “Lowest Minute Outage” in North America

DENVER–(BUSINESS WIRE)– TSG (The Strawhecker Group) recognized CSG Forte, a leader in complete and customizable digital payments, as the payment gateway provider with the “Best Gateway Uptime” and “Lowest Minute Outage” in North America. TSG’s always-on Global Experience Monitoring platform benchmarks gateway performance by conducting 24/7/365 pings to locations across the globe. Based on credit card transaction performance and merchants’ perspectives of performance at checkout, CSG Forte earned TSG’s two top honors for payment gateway stability and reliability.

“Merchants and developers need to know they can depend on their payment infrastructure at all times,” said Mike Strawhecker, president, TSG. “With a payments partner that maximizes uptime and limits outages, merchants and developers can strengthen revenue, protect customer relationships and avoid bottlenecks. We were impressed by CSG Forte’s gateway stability and consistently strong performance across locations in North America.”

“Payment gateway interruptions are not just inconvenient for merchants; they can lead to lost business and diminished customer loyalty,” said Sukanya Madhavan, chief product and technology officer, Payments, CSG. “In a world where customers’ expectations for fast, effortless checkout experiences are sky-high, merchants need a payment partner they can trust to deliver a seamless experience. With a robust, reliable payment gateway, merchants can focus less on service interruptions and more on bringing value to their customers. For the second consecutive year, TSG’s analysis has confirmed our commitment to performance and stability for the 130,000+ worldwide businesses who rely on CSG’s platform.”

Learn about the latest improvements and innovations to CSG’s payment platform in the CSG Forte 2024 Unwrapped eBook, and read how integrating payments helped one property management independent software vendor (ISV) achieve nearly 40% year-over-year revenue growth.

CSG Accelerates Diversification Strategy with Accretive Acquisition of High Growth Payment Company iCG Pay

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DENVER–(BUSINESS WIRE)– CSG® (NASDAQ: CSGS) today announced it has acquired iCheckGateway.com, LLC (“iCG Pay”), a North American ACH and credit card payment processing company. Management expects this acquisition to be accretive to CSG’s 2024 profitability.

iCG Pay has a rapidly growing merchant customer base in high recurring revenue industry verticals including financial services, insurance, utilities and government. Both CSG and iCG Pay provide market leading solutions in ACH and credit card processing such that merchants and independent software vendor (ISV) partners will benefit greatly from our combined offerings once the two platforms are fully integrated. The acquisition also adds attractive new ISV channel partnerships and a proven team of payments leaders who will help extend CSG’s leadership in the North American payments markets.

“We are extremely excited to welcome the talented iCG Pay team and the innovative merchants and ISV partners to CSG,” said Brian Shepherd, president and chief executive officer of CSG. “CSG is a culture first, customer obsessed technology leader focused on solving our customers’ biggest business challenges. This acquisition is a great example of our relentless commitment to grow and diversify our business in a way that adds value for shareholders, customers and employees.”

iCG Pay has historically delivered double-digit organic revenue growth with 2023 total revenue less transaction fees of approximately $9.5 million. CSG paid an upfront purchase price of $17 million1.

1 There are additional earn-out amounts tied to performance goals.

About CSG

CSG empowers companies to build unforgettable experiences, making it easier for people and businesses to connect with, use and pay for the services they value most. Our customer experience, billing and payments solutions help companies of any size make money and make a difference. With our SaaS solutions, company leaders can take control of their future and tap into guidance along the way from our fiercely committed and forward-thinking CSGers around the world.

Want to be future-ready and a change-maker like the global brands that trust CSG? Visit csgi.com to learn more.